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March 2015 - Scottish Buy-to-Let Index

Landlords’ total annual returns hit record high of 9.7% in March 2015, amounting to £15,000 on average

Rent rises accelerate again – annual rent growth increases to 1.3% in March, up from 1.1% in February

Average monthly rents in Scotland now stand at £539, 30% lower than typical rent in England & Wales

Tenant arrears continue to worsen, with late rent rising to 8.6% in March 2015 from 7.2% a year ago

Total annual returns on rental properties in Scotland reached the highest level on record in March 2015, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.

Scottish landlords have seen total annual returns of 9.7% on average in the twelve months to March 2015, up from 7.2% a year ago. This is equal to £15,000 per property before any mortgage payments or maintenance costs, but taking into account property price growth and void periods between tenants. Buy-to-let investors in Edinburgh have experienced the strongest annual returns in the last year of 13.4% - equivalent to £27,135 in cash terms.

This comes as rent rises start to pick up again after a previous slowdown in annual growth. The average residential rent in Scotland has risen 1.3% in the year to March 2015 – up from a 1.1% annual rise experienced in February 2015. This takes the average monthly rent across Scotland to £539 as of March 2015.

Despite an uplift in growth, Scottish prices are 30% lower than typical rents south of the border, with the latest England & Wales Buy-to-Let Index from Your Move and Reeds Rains reporting that rents in the rest of the UK currently stand at £768 per month. In the month to March, Scottish rents increased 0.3% overall – the strongest monthly uptick witnessed since October 2014, after a winter downtrend.